Update: Addressing cheques to iPro Realty Ltd.

RECO understands that there has been some confusion amongst co-operating brokerages on how to address cheques so they can be successfully deposited (or credited) into iPro’s real estate trust account. 

A number of cheques have been incorrectly endorsed and returned to these brokerages by the financial institution. This is an important element of the commission insurance claims review process, as all transactions need to be properly recorded and funds received to allow the insurance program manager to complete its assessment. 

Please be sure to make out any commission cheques to iPro Realty Ltd. 

The financial institution will not accept any cheques that include any alternative references or spellings. Cheques must not be made out to RECO or include RECO’s address.

Reminder: Agents who are owed commissions by iPro Realty Ltd. are urged to file a commission protection claim form with the insurance claims adjuster, ClaimsPro LP. Claim forms need to be submitted for each deal with commissions outstanding (or that will become outstanding once the transaction closes) so they can be assessed promptly. 

To file an insurance claim form, please complete the following steps:

1. Complete the Commission Protection Insurance claim form.
2. Email it directly to claims@reco-claims.ca and include “Attention: Jan Perkins” at the top of your message.
3. A ClaimsPro representative will contact you.